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Initially you may only be making a small amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. However, with a few time, its possible to make enough passive income you could quit your job or retire early.

Passive income can be a small divisive topic. In general, passive income is any money that you earn without putting in much work. The money will flow in without too much being required of you. In some cases it could be long-term recurring income, and in other instances it might be short lived or inconsistent.

In some circumstances youll need to put in some effort up front, but then it wont need just as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for discussion. Most lists that youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this post because, in my opinion, all of them require an excessive amount of effort to be considered as passive.

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Blogging will constantly require on-going work, either by yourself or from others which youre paying.  Selling ebooks or classes will require on-going customer support, and youll need a consistent traffic supply in order to continue to create sales. It's possible and there are people who've been in a position to get it done passively, but they make up a small percentage of individuals who actually set out to do it.

Ive been blogging fulltime for ten decades and Ive sold ebooks and courses in the past. Theyre great ways to make money, I just dont consider them to be passive, in the majority of cases. .

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Nearly any business can be a source of passive income when youre paying others to run the business. That is true with both online and traditional businesses. This opens up even more possibilities than that which will be listed here.

Now lets have a peek at a few of the greatest ways to produce passive income. A number of them are investments that will require some money to start with. Others wont require any money to get started. If you dont have the money to invest now, consider starting with the approaches that dont need any money, and then utilize that money that you make to invest. .

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Your first financial priority should be to build up an emergency fund that can cover all your living expenses for a couple months. But dont put this money would be a checking or savings account at a local bank that pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank which will earn a much better return for you.

My spouse and I maintain our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick and simple, and can be done online. .

Some companies consistently pay dividends to their shareholders. As a shareholder, you can re-invest the dividends to purchase more shares of this stock, or take the dividends in cash. Reinvesting will allow you to own more shares, which leads to greater dividends in the future (ideally).

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The companies that consistently pay here are the findings dividends tend to be large companies with a long track record of success. As a result of this, these investments tend to be considered less risky than the stock market in general.

Dividend stocks can be a terrific investment whether or not you want to reinvest all the dividends on hold on to this stock for quite a long time, or use the income generated through the dividends.

For much more detail on the topic read Investing in Dividend Stocks at Investopedia. To get a list of these shares, see this collection out of Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) has become extremely popular in recent decades. Creditors and lenders can be matched up via a website or market. Instead of going to a pop over here bank, the borrower receives a loan by an investor.

In some cases the borrower may not be able to be eligible for a loan through a traditional bank. And in many circumstances the borrower gets a better interest rate than they might get from a bank. As an investor, you can earn a great return as well.